On Finance And Leading Assurance Of Chinese Communist Party (CCP) In The New Period

Finance is the core of modern economy. The more developed economy is, the more important finance will be. Finance is an important aspect and also a key element of the economic field of the CCP. In the 25-year reformation & opening, one of the most remarkable achievements that deserve compliments is to maintain stability and sustainable development in the finance industry. We may draw a basic conclusion by summarizing the leadership of finance by the CCP in the new period of the reformation & opening and socialist modernization construction: In the new period, the CCP should conduct finance as required by development of advanced productivity, guided by Marxist economy theories, and attach great importance to the actual conditions in the reformation, opening and development of China. The CCP should strive to explore the socialist modernization construction with Chinese characteristics, to find and select a road for the establishment, development and reformation of financial system that fits in with the social-economic system with Chinese characteristics. That is, explore gradually from the year 1978 a financial system reformation road which fits in with the socialist market economy system, and construct a fundamental framework for socialist financial system.The research on the finance and leading assurance of the CCP in the new period is of great significance in both theory and practice to abstract and perfect the subject of the history of the CCP, enrich the connotation of the history of the CCP, improve the working of financial economy,enforce the construction of leading capacities, enhance the mastery of market economy capabilities, and revive the Chinese nation. This research aims to "look into the doctrine of finance and encourage economy" .Marxist classical writers' exposition of and basic attitudes to monetary and financial issues, together with the knowledge and exploration of socialist monetary finance by the 1st generation of the CCP leading group representative of Mao Tzetong, provides us with theoretical guidance, experience and lessons in conducting successful financial work, grasp the overall situation of financial reform and development, and improve gradually the leading level of the CCP in charge of finance in the new period of socialist modernization construction. In each and every aspect, it is precious fortunes for the CCP in charge of financial economy.In the financial work and leading assurance construction in the new period, the CCP has done a lot of fruitful work with financial reform and development as the focus in terms of financial institutions, financial market, financial opening, financial regulation & control and supervision, and party construction in finance. This work goes through four periods, that is, the early period (1978 through 1984) of reformation & opening, overall development period (1984 through 1992) of the reformation & opening, position-assault (deepening) period (1992 through 1997) of the reformation & opening, and the new stage (1998 through 2003) of the reformation & opening.The years 1978 through 1983 are the early period of the reformation & opening of China. In this period, the financial system, guided by Deng Xiaoping' s idea of"develop banking in a real sense" , has made a breakthrough in the hovering period. It began to put in order the ideological and political work, restore gradually financial institutions and finance business, and implement the credit management system of "imbalance contract" . Thus, China has returned to the stage of international finance.The years 1984 through 1992 are the overall development period of reformation & opening with urban reform as the focus. Guided by the theory of planned commodity economy and that of socialist initial stage, the financial system of China has initially become perfect and the People' s Bank of China has independently excised its functions as the Central Bank. Meanwhile, regional banks and joint-stock banks have began to come into being, the credit management system of "actual credit and actual deposit" has been promulgated, and the money market has gradually formed. Besides, the financial system has achieved a new knowledge of capital market and international financial market and taken an active part in exploring both markets.The years 1992 through 1997 are the deepening period of the eformation & opening of China. Guided by the theory of socialist market economy system, the financial system has improved and perfected the Central Bank system. More financial institutions have appeared, securities market has been put into trial operation and legal system in finance has been put on the agenda. At the same time, finance has been supervised in a normal, scientific, and systematic way, and financial means has become a powerful tool to implement macro-economic regulation and control. Financial reform has become the focus and also a hard nut to crack in economic reform and finance has become more and more important in theeconomic work, even all the work, of the CCP and China.The years 1998 through 2003 are the new stage of the reformation & opening of China. In this very period, various profound contradictions have been seen. In the finance field, these contradictions have been represented by the impact of Asian finance storm and increasingly aggravated financial risks, and the environment for financial reform and development does not allow us to appear optimistic. With a view to this, the Central Committee of the CCP has considered the situation and operated from a strategically advantageous position. It has given full play to its political advantages, enforced its leadership of finance, established the finance working committee under the Central Committee of the CCP, put into order the financial order and disciplines, taken effective measures to perfect the financial market mechanism, enforced the supervision over the financial market, eliminated various financial risks, laid an emphasis on security in financial economy and promoted the capabilities and level of the CCP and the whole nation in finance management.One important, prominent aspect in the leadership of finance by the CCP is to eliminate financial risks and enforce construction of leading assurance. Over the past 25 years, China has made great achievements that attract worldwide attention in its reformation & opening. There is no denying that the finance industry has made its great contributions, but has accumulated some contradictions and risk at the same time. Some of them are rather severe and any wrong handling may endanger security in financial economy and social stability. It can be said that financial risks have become an important issue to test the leadingcapacities and levels of the CCP. To eliminate financial risks and enforce construction of leading assurance, we must guide finance with the political sense of responsibility of "no trifle in finance" , and political acuity in handling complex problems. Besides, we must take an open, global view and make long-term arrangement to be prepared for danger in times of safety and take precautions.To enforce the party building in the financial system guarantees the finance in terms of organization in the new period. Finance industry is a high-risk industry and finance work has its own particularity. It can be said that any failure in finance may endanger the overall situation of the cause of the CCP and our nation. To enforce the ideological and political construction, organizational construction, construction of style of work, construction of an incorrupt government of the CCP in the financial system has become an objective necessity in developing successful finance in the new situation. The focus in this work is to enforce the construction of professional ethics and that of ranks of cadres, to establish a prewarning mechanism and to exert more force upon anticorruption, so as to ensure a healthy development of finance industry.Practice proves that under the leadership of the CCP, China has made great achievements that attract worldwide attention in the financial reform and development over the past 25 years in the reformation & opening. Besides, the basic experience below can be summarized in the exploration: (D We should stick to, enforce and improve the leadership of finance by the CCP in the new period and new situation;(2)We should attach great importance to the core position of finance in modern economic and social development;(3) Ahealthy development of finance industry demands basic functions of market mechanism;(4)We should handle properly the relationship between finance and accounting in the financial reform and development;(5) The focus in financial reform and development is to ensure stable currency value and control financial risks.